It seems to me that the cost of that style of rotor would far outweigh the excess wear on brake pads. Not to mention, to get that style you would have to start with such a large rotor to maintain mass for proper heat dissipation it doesn't seem realistic.

Have you thought about just going with slotted rotors? Those work pretty well to "swipe" gunk out between the rotor and pad.

I am using a 22.5 rim and a minimum 40" tire and placing the part of the rotor that will wear outside of the rim. I am placing the caliper next to the actual sidewall located at the highest part of the rotor. I need to get the rim and tire combination to know the exact measurements. At this point I am looking at a 18-20" rotor.
The rotor will be in open air that will aid in cooling while avoiding the caliper and pads getting clogged up with mud. I am hoping most of the mud will be thrown off by using a "wave" design and such a large rotor before it reaches the pad. The rotor will have a small "rock guard" to protect the spinning rotor from derbies, ruts, rocks, whatever that mounting the rotor outside the rim will cause.
Despite the rim being a 22.5 rim. Due to the design of the rim if I was to mount the caliper within the rim it would either cause me to mount the break on the hub or have a very tight bell that would get clogged. With either method or using a common method the caliper and pads will get heavily clogged and may cause a out of round issue. Hence why I feel it is needed to go with a design that places the rotor outside of the rim near the tire where it will be somewhat protected while easy to inspect and clean.
I don't feel I can build a vented rotor and have decided to go with slotted.

I feel the wave design will be enough while being easy to tell someone cut me out another 8 of this design using this thickness of this type of steel. But, if I can have better stopping power by using the "batfly" style rotors without much more pad wear I will. I can easily send out a set of 8+ rotors and have them machined or cut and machined at a additional cost but am only going to do so if it is going to prove greater pad life.

I am not really concerned with upfront cost with this build. I am concerned with maintenance cost. Using a stick I cruise a lot and that uses my pads more. While stopping power is a major concern and the most important part to me. I want to have the pads last 20-25k realistically. If I am replacing pads every 8-10k or so because I am using a "batfly" style that is causing the rotor to dig into the pad then I will quickly eat the cost of the rotors and replace them with the wave slotted style.